Economic news and analysis from across Africa.
AFRICA
The African Development Bank Group (AfDB) has announced the election of Sidi Ould Tah as its ninth president, signaling a new chapter for one of Africa’s most influential financial institutions. Sidi Ould Tah was elected by the AfDB’s Board of Governors, a body consisting of finance ministers, economy ministers, and central bank governors from the […]
ECONOMY
President Paul Kagame has urged African nations to prioritize self-reliance and resilience in the face of diminishing external aid. He emphasized the critical need for Africa to become economically independent, particularly in light of recent reductions in international assistance. Speaking at the Presidential Panel during the Africa CEO Forum, Kagame highlighted that Africa cannot continually […]
ECONOMY
In a move to reduce Africa’s reliance on imported refined petroleum products, which cost the continent an estimated US$30 billion annually due to insufficient refining capacity, the African Export-Import Bank (Afreximbank) has launched a US$3 Billion Revolving Intra-African Oil Trade Financing Programme. This initiative will finance the purchase of refined petroleum products by African and […]
AFRICA
Monrovia, Liberia – March 20, 2025 Liberian businesses and policymakers have been encouraged to leverage Intra-African trade opportunities to drive economic growth and industrialization. This call was made at the IATF 2025 Stakeholder & Business Engagement Session held on March 20, 2025, at the Royal Grand Hotel in Monrovia. The event was organized by Oakwood […]
AFRICA
The African Development Bank (AfDB) has introduced a proposal for a new currency system backed by Africa’s critical mineral reserves, drawing inspiration from the historic Gold Standard. The plan seeks to enhance economic stability, attract clean energy investments, and strengthen Africa’s role in global resource markets. Despite holding approximately 30% of the world’s critical mineral reserves, Africa only attracts 3% of global energy investments, […]
BUSINESS
Cairo, 21 October 2024 – The African Export-Import Bank (Afreximbank) has announced its successful role as Joint Lead Manager and Bookrunner on a USD 400 million senior unsecured note issuance for Ecobank Transnational Incorporated (ETI). The issuance, with a 10.125% yield under Rule 144a/RegS, is due for maturity in October 2029. This move will allow […]
BUSINESS
The African Development Bank (AfDB) has once again secured the top position in the Aid Transparency Index for its sovereign portfolio. This recognition highlights the Bank’s unwavering commitment to transparency and accountability in its operations and aid distribution. The Aid Transparency Index, an annual ranking by Publish What You Fund, evaluates the transparency of aid […]
AFRICA
The 2024 African Trade Report, published by the African Export-Import Bank (Afreximbank), delves into the climate implications of the African Continental Free Trade Area (AfCFTA). The report underscores the significant threats climate change poses to African economies, highlighting that abrupt decarbonisation could erode African GDP by 1% and merchandise exports by 14.6%. The AfCFTA, by […]
AFRICA
Challenges in business are a given, but it’s our response to them that defines our trajectory. Looking beyond the immediate obstacle, there lies a realm of opportunity and learning.